The gender pay gap, the difference in earnings of men and women, has remained remarkably resilient over the past two decades in Australia and a number of other countries, despite a range of legislative and policy initiatives aimed at narrowing this difference. Drawing upon industry-wide data and an organisational case, this analysis of professional business services examines the nature of pay equity within and beyond organisational boundaries. We conclude that ‘success’ in gender and pay equity terms has been constrained by minimum government compliance requirements and limited attention to the role labour markets play in contributing to gendered patterns of pay.